With the crypto markets picking up, this is a good time to review the performance of key gambling altcoins so far in 2019.
In January, CryptoGamblingNews.com picked out four gambling alts worth keeping a close eye on this year. If you had invested $1,000 across those four altcoins in January, today your investment would have roughly doubled.
While the whole crypto market has performed well in 2019, gambling alts have tended to beat it. The 100 percent return on a mixed bag of $FUN, $CSC, $WGR and $EDG betters the roughly 65 percent return on Bitcoin, or 24 percent return on Ether.
The only of the four picked out in January to have decreased in value is Edgeless, although with a product now live and new games being added all the time, it will be hoping to reverse that trend over the course of the year.
CryptoGamblingNews.com questioned whether gambling alts were fundamentally undervalued back in February. It appears the market is starting to correct things.
Here are the highlights from three of the big gainers so far this year.
January 1 market cap: $8.1 million
May 10 market cap: $34.7 million
2019 percentage gain: 328 percent
CasinoCoin has been the clear winner among gambling cryptocurrencies so far in 2019, more than trebling its market cap over the past five months. Its team has made some interesting moves, most notably adding Richard Cammegh of roulette manufacturer Cammegh to its advisory board, as it continues to focus on disrupting the regulated gaming space.
January 1 market cap: $11.4 million
May 10 market cap: $19.7 million
2019 percentage gain: 73 percent
Wagerr has already seen more than 100 million WGR tokens bet on its decentralized sports betting platform. CEO David Mah told CryptoGamblingNews.com in April that the focus is now on education users as the platform looks to expand further. With the new Wagerr Electron Wallet next on the horizon, it will be looking to build upon already impressive gains in 2019.
January 1 market cap: $22.7 million
May 10 market cap: $35.5 million
2019 percentage gain: 56 percent
FunFair has been live with its CasinoFair flagship casino for several months now, and it appears investors are impressed. With the platform adding a number of new games as well as ironing out some issues with onboarding, FunFair looks well positioned to build on this growth throughout the rest of the year.
In a detailed blog post, FunFair discussed at length the challenges to onboard users to dApps.
“We can see plain as day where we lose people in the onboarding funnel, and much of the time it’s very early – at the start – the moment they’re asked to download a Web3 browser or wallet and to create an Ethereum account,” the team said in the post.
“We believe we could reach a lot more users for our dApp if there were far lower friction, no requirement to download or install anything new, and a UI that had a much more comfortable learning curve.”
To tackle the problem, the FunFair has spent almost a year building “an easy to use wallet that targets this significant onboarding friction”.
The result is the FunWallet, which FunFair says will run “in any web browser inside an iFrame, on any device, mobile or desktop, Safari or Chrome” and requires no plugin, download or install. In other words, users will be able to easily log into their FunWallet from their phone with an email and password.